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Your Future, Your Super

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978-1-925832-18

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365体育投注australia’s $3 trillion superannuation system is the fourth largest in the world and is responsible for managing the retirement savings of 16 million australians.

superannuation will help many australians to enjoy a higher standard of living in retirement. but structural flaws within the system mean many australians will be let down. right now, australian households pay $30 billion per year in superannuation fees (excluding insurance premiums). this is more than the $27 billion australian households pay on their energy bills or the $12 billion they spend on water bills.

Your Future, Your Super makes the superannuation system better for members in four key ways:

  • Your superannuation follows you, prevent the creation of unintended multiple superannuation accounts.
  • Empowering members, by making it easier for you to choose a well-performing product that meets your needs.
  • Holding funds to account for underperformance, protecting you from poor outcomes and encouraging funds to lower costs and fees to boost Australians’ retirement incomes.
  • Increasing transparency and accountability for how superannuation funds use members’ savings.

365体育投注together, these changes will save australians $17.9 billion over 10 years.

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